AHCO - AdaptHealth declines 16% after cutting its 2023 revenue guidance
- AdaptHealth ( NASDAQ: AHCO ) is off 16% in after-hours trading on Monday after adjusting its fiscal 2023 revenue guidance downwards.
- FY 2023 revenue is now expected to be $3.16B to $3.24B (previously $3.21B to $3.29B). Consensus is $3.26B.
- Another outlook change is adjusted EBITDA, which is now expected to be $650M to $710M (previously $690M to $750M).
- In the quarter, AdaptHealth ( AHCO ) swung to a net loss of ~$1.6M from net income of $23.5M in the prior-year period (-$0.02 per share diluted vs. $0.15).
- Q4 GAAP EPS of $0.27 was a miss.
- Q4 2022 revenue of ~$780.3M was ~11% less than the prior-year period and a top line miss.
- Read why Seeking Alpha contributor Jay Capital has a buy rating on AdaptHealth ( AHCO ).
For further details see:
AdaptHealth declines 16% after cutting its 2023 revenue guidance